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Sweden Jobless Rate Rises Unexpectedly

Sweden's jobless rate rose unexpectedly in August, figures from Statistics Sweden showed on Tuesday.

The jobless rate rose to 7.1 percent in August from 6.9 percent in July. Economists had expected the rate to ease to 6.3 percent.

The youth unemployment rate, which applies to the age group of 15 to 24 years, climbed to 18.2 percent in August from 15.6 percent in the prior month.

The number of unemployed persons increased to 393,000 in August from 389,800 in the previous month.

The employment rate decreased to 68.3 percent in August from 69.8 percent in the preceding month.

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